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Strategies & Market Trends : CNHH ... Greece Shipping Company
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To: Rande Is who wrote (9)2/10/1998 9:01:00 PM
From: Due Diligence  Read Replies (2) of 92
 
Ask yourself this question. Why would a private company go into this shell? Because of the stock structure and NO debt associated with the shell. This happens all the time with when private companies want to go public. They look to this type of shell and then change the ticker.
It is cost efficent.
Jimbo

Breakdown:
3,450,000 shares fully deluted.
2,500,000 was given to DRC in Restricted shares
leaving 950,000 shares not accounted for.
100,000 shares have been cancelled,according to the Company.
leaving 850,000 in the float
370,000 held by insiders(144)

LEAVING ONLY 480,000 IN THE FREE TRADING FLOAT.

According to the company and SEC rules the 144 has to be registered
to have the restriction lifted and can only sell 1% of the average daily volume over the course of a quarter(3 months)

This explains why some corporate officers take 2-3 years to sell
their stock position if they so desire.

This was set-up by the SEC to protect the company and its
shareholders from a disgruntled ex-employee trying to dump shares.
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